The insurance sector is witnessing a notable increase in patents related to clean energy insurance and carbon capture technologies. According to recent data from GlobalData, patents for clean energy insurance have more than doubled, climbing from 1,537 in 2014 to 3,004 in 2023. Meanwhile, patents for carbon capture have surged from 2,009 to 5,143 during the same period.
This surge underscores a significant shift towards supporting sustainable energy projects. In the first half of this year alone, patents for clean energy insurance have already reached 2,519, indicating a robust trend in the industry’s commitment to environmental sustainability.
Guillaume Anns, an Insurance Analyst at GlobalData, emphasized that this increase in patents demonstrates the insurance industry‘s strategic pivot towards fostering sustainable energy solutions. “The rise in patents for clean energy insurance and carbon capture within the insurance sector reflects an intentional effort to support sustainable energy initiatives. As nations strive to meet their net-zero goals, insurers are innovating to provide new products and services suited to this evolving market,” Anns stated.
In addition to these advancements, insurers are also shifting their practices to align with sustainability goals. This includes increasingly restrictive coverage policies for high-carbon industries such as coal mining.
